What is a company name amendment?
A company may change its name if it doesn't accurately reflect its operations. For instance, if a company sells soda and the name is reflecting baking soda.
Name Amendment reflects changes to the legal name of a corporation, LLC or any other legal entity. Companies are authorized and bound to do business using their legal names filed with the registering State. If a legal entity will be changing its name, for that change approval must be taken from the state before applying that change into the business.
What is required for a company to change its name with the Secretary of State?
In order to change your company's name with the Secretary of State, there are a few steps that need to be taken, and each state has its own unique steps. This is a comprehensive summary of the process:
- Gather the necessary paperwork. Typically, you have to submit a Certificate of Amendment or Articles of Amendment to the Secretary of State's office. All necessary information will be included in this document, including the new name.
- At your state's Secretary of State office, hand in the filled-out form and the necessary filing fee to submit the documents. In certain states, it is possible to make online submissions through their business services portal.
- Make sure to pay the filing fee, which may vary depending on your state. Credit cards, money orders, or other accepted forms can be used to make payments.
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Ensure that your business name is updated with other relevant agencies, including the IRS, banks, and any licenses or permits, after filing.
What distinguishes a DBA from a company name change?
- The purpose of having a DBA name and changing a company name are similar, but they require distinct processes.
- A DBA permits a business to operate under a name that differs from its legally registered name.
- To start your business, it's necessary to register it with your local government, which could be at the county or state level. The legal name of the business remains unchanged.
- For sole proprietors, partnerships, or even corporations seeking to operate different business segments or brands under separate names, use cases are a common thing.
- Although the legal entity remains the same, it is allowed to operate under an assumed name.
What makes a company name change stand out from a DBA?
- The legal name of the business entity has been officially changed.
- A Certificate of Amendment or Articles of Amendment is required to be filed with the Secretary of State in the state where the business is registered in the process. This is typically accompanied by a fee.
- Use cases are necessary when a business wants to alter its official registered name for branding, restructuring, or any other reason.
- All legal documents, contracts, and official business activities must now use the updated legal name of the entity.
